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Satoshi Nakaboto: ‘Nasdaq-listed company buys $250M of Bitcoin to dodge inflation’

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Inside money, markets, and big tech

Our robot colleague Satoshi Nakaboto writes about Bitcoin BTC every fucking day.

Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Habermass used to say: Shleppppppp it!

We closed the day, August 11 2020, at a price of $11,410. That’s a notable 3.96 percent decline in 24 hours, or -$471.11. It was the lowest closing price in six days.

We’re still 43 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin‘s market cap ended the day at $210,616,121,945. It now commands 62 percent of the total crypto market.

Yesterday’s volume of $27,039,782,640 was the highest in eight days, 19 percent above last year’s average, and 63 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 437 tons of gold.

A total of 349,798 transactions were conducted yesterday, which is 9 percent above last year’s average and 22 percent below last year’s high.

Yesterday’s average transaction fee concerned $2.92. That’s $0.99 below last year’s high of $3.91.

As of now, there are 18,470 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 4.9 percent of the total supply, the top 100 14.2 percent, and the top 1000 34.8 percent.

With a market capitalization of $209 billion, Pfizer has a market capitalization most similar to that of Bitcoin at the moment.

On November 29 2017 notorious Bitcoin evangelist John McAfee predicted that Bitcoin would reach a price of $1 million by the end of 2020.

He even promised to eat his own dick if it doesn’t. Unfortunately for him it’s 97.6 percent behind being on track. Bitcoin‘s price should have been $503,708 by now, according to dickline.info.

On a yearly basis Bitcoin now uses an estimated 64 terawatt hour of electricity. That’s the equivalent of Switzerland’s energy consumption.

Yesterday 33,567 fresh tweets about Bitcoin were sent out into the world. That’s 66.3 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.

This was yesterday’s most engaged tweet about Bitcoin:

.@MicroStrategy, a Nasdaq-listed software firm worth $1.2 billion, has bought $250 million in bitcoin as a “reasonable hedge against inflation.”@realDannyNelson reportshttps://t.co/383pKUgHfo

— CoinDesk (@CoinDesk) August 11, 2020

This was yesterday’s most upvoted Reddit post about Bitcoin:

MicroStrategy becomes first listed company to buy $250M in bitcoin as part of its capital allocation strategy from r/Bitcoin

print(randomGoodByePhraseForSillyHumans)

My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.

Published August 12, 2020 — 09:32 UTC

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